India Equity Research | Electric Vehicle Conference © May 23, 2021 Sector Report Emkay Electric Vehicle Conference Your success is our success Refer to important disclosures at the end of this report Decoding Electric Vehicle Disruption We organized our first ‘Electric Vehicle’ conference, featuring eminent speakers representing This report is solely produced by Emkay Global. The following person(s) are responsible for the production the entire EV value chain – Global & Indian OEMs, Government associations, Battery of the recommendation: manufacturers, Component suppliers, Sustainable mobility players and Charging infrastructure companies. We witnessed full-house participation with over 700 investor Raghunandhan N L
[email protected] meetings over a period of two days. Across the value chain, the expectation of EV adoption +91 22 6624 2428 is high, and now the debate has shifted from “when” to “how fast”. Recent moves of firms across the value-chain on the product line-up and investment fronts, as well as their resolve Mumuksh Mandlesha to go ‘all electric’ have notably reset the expectations regarding the pace of EV adoption. The
[email protected] key takeaways given below highlight initial signs of improving EV adoption: +91 22 6612 1334 OEMs: New products expected to drive adoption: Global OEMs already have a wide range Bhargava Perni of products, which are being introduced either directly (e.g., Mercedes Benz) or through
[email protected] collaborations (e.g., GreenPower). In addition, almost all domestic OEMs and startups (e.g, +91 22 6624 2429 Ather) are also indigenously developing and launching products. These launches should drive the evolution of consumer profile from ‘early adopters’ and ‘technophile purchasers’ to ‘mass adopters’ over the medium- to longer term.